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20121222
20121230
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they go to washington, it is not an act of philanthropic on the pentagon -- and at the plant for be on the pentagon fell apart -- it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why is that? because the global surplus of recycling mechanism was sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. well, paul volcker -- been named may ring a bell. in 1971, paul volcker was an unknown working for another american. henry kissinger, who you may have heard of. before he became secretary of state. volcker's paper, which are when i read a few year
, it is not a philanthropic act on the pentagon's part to instruct boeing to build. -- to build in the deficit areas of the u.s. it is pragmatic. the united states federal government -- unless europe is dollarized, unless they do not have dollars to spend purchasing -- unless those who do not have dollars are given dollars to spend purchasing, the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. the 1950's and the 1960's. a period of immense stability very low inflation. very low unemployment. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why did it end? because the global surplus of recycling mechanism could no longer be sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. -- if you do not have it? enter a young turk in 1971. actually, he was the american, but you know what i mean. well, paul volcker -- that name may ring a bell. in 1971, pau
to washington, it is not a philanthropic act on the pentagon's part. -- to instruct boeing to build . it is pragmatic. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. 60's.950's and the 19 a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why is that? -- why did it end? because the global surplus of recycling mechanism was sustained. -- could no longer be sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. enter a young turk in 1971. well, paul volcker -- been named may ring a bell. in 1971, paul volcker was an unknown working for another american. henry kissinger, who you may have heard of. before he became secretary of state. he was still nation
Search Results 0 to 2 of about 3